Open Text Introduces Livelink Corporate Governance Platform for Sarbanes-Oxley

Offers Comprehensive Management System to Ensure Compliance, Reduce Risks

Chicago, Il - 2003-06-16 - Open Text Corporation (Nasdaq: OTEX, TSX: OTC), provider of Livelink®, the leading collaboration and knowledge management software for the global enterprise, said today it is launching a corporate governance platform for Livelink, giving companies a single system to manage critical information and collaboration in the face of tough Sarbanes-Oxley regulations. The solution offers a Web-based regulatory compliance infrastructure that companies can deploy quickly to track, report and manage the regulatory processes associated with corporate governance.

Open Text s solution is designed to reduce the risks and uncertainty associated with a law that is ushering in the most radical changes to corporate governance and accounting in 70 years. The solution integrates Livelink s collaboration tools, auditable workflows and process controls, document and records management, e-mail management, and certification and training delivery. Livelink s open architecture and Web interface make it easy to deploy and integrate with existing financial systems, as well as adapt the system to changing regulatory requirements.

Adaptability is one of the key requirements for systems that support Sarbanes-Oxley compliance. The full impact and interpretation of this legislation is still emerging and may take some time before fully realized, said Charles Brett, Senior Program Director, META Group. But compliance preparations should begin immediately. Therefore organizations must choose adaptable systems so deployments can be readily configurable and extensible to meet inevitable changes. In an adaptable system lies the opportunity for organizations to change their view of compliance efforts from strictly a cost of doing business, to the more positive view of an opportunity to improve core business processes and manage the creation and control of the organization s information.

When you consider the risks of non-compliance--jail, large fines, and a loss of investor confidence and shareholder value there is no margin of error with Sarbanes-Oxley, said Bill Forquer, Senior Vice President of Business Development at Open Text. Our Sarbanes-Oxley customers will benefit from years of experience delivering solutions for demanding standards such as ISO9000 and the U.S. Food and Drug Administration s 21 CFR Part 11 rules. Sarbanes-Oxley and the U.S.A. PATRIOT Act are the latest in a series of laws requiring automation of processes and collaboration across the enterprise to ensure that policies are followed consistently. Our Livelink solution does just that by bringing the people, information and critical processes for compliance together in one place.

Open Text s solution provides an integrated enterprise platform designed to help companies with key requirements of Sarbanes-Oxley, including:

Process control documentation and monitoring--the need to identify, test and certify internal controls (Section 404).

Accelerated deadlines for 10K and 10Q disclosure filings, combined with more rigorous requirements for supporting documentation.

Training and certification to ensure that board members, executives and employees are fully aware of the latest policies and procedures. Also required is the ability to certify that all such training has occurred

Whistle-blower provisions, which require audit committees to have an independent and anonymous process for receiving and managing complaints.

Consistent records retention and disposition practices for both released documents and working papers.

Key features of Open Text s solution include:

COSO Framework: Detailed, auditable workflows designed around the COSO framework, to automate processes around people and information. COSO is a framework for auditors, which addresses internal controls, risk assessment, communication of critical information and monitoring of internal controls.

Document lifecycle management: The ability to manage documents through a lifecycle authoring, reviews/edits, approvals and dissemination using Livelink s security, workflow and e-signature capabilities.

Records management: Integrated records management features, combined with powerful content management capabilities, to ensure that an organization s information assets can be consistently controlled, archived and disposed of in a compliant manner.

Collaboration: Secure collaborative tools and team workspaces that are integrated with document management and process automation in Livelink. This ensures that sensitive information can be managed on a need-to-know basis, while retaining the flexibility and fast-reaction time needed by today s companies. One of the collaborative applications available to audit committees is a secure workspace for investigating whistle-blower complaints.

Training: An integrated closed-loop, rich-media training and assessment system, which includes the ability to audit training across the enterprise.

Content: The ability to capture and manage various forms of content communication, including e-mail, voicemail, paper, fax, forms and electronic documents.

Adaptability: Livelink is proven to be scalable and adaptable, and can deploy rapidly for all forms of regulatory compliance.

http://www.opentext.com/livelink/applications.asp?id=1034

Open Text to Hold Seminar Series:

http://www.opentext.com/events/event.asp?id=34919

http://www.opentext.com/events/event.asp?id=34913

http://www.opentext.com/events/event.asp?id=34925

http://www.opentext.com/events/event.asp?id=34926

http://www.opentext.com/events/event.asp?id=34927

http://www.opentext.com/events/event.asp?id=34928

About Livelink

Livelink is the leader in collaboration and knowledge management for the global enterprise. Its richly featured enterprise services include virtual team collaboration, business process automation, enterprise group scheduling and information retrieval services, all tightly integrated into a solution that is easily customized and extended. Livelink is essential to the effective management and development of communities of interest that span organizations and industries. For everything from the creation of complex e-community relationships to the automation of simple e-business processes, Livelink delivers true dynamic collaboration between individuals, organizations and large trading communities. Livelink servers are fully Web-based and open-architected to ensure rapid deployment and easy access to its full functionality through a standard Web browser. For more information, visit www.opentext.com/livelink/.

About Open Text

Since 1991, Open Text Corporation has delivered innovative software that brings people together to share knowledge, achieve excellence, deliver innovation, and enhance processes. Its legacy of innovation began with the successful deployment of the world s first search engine technology for the Internet. Today, as the leading global supplier of collaboration and knowledge management software for the enterprise, Open Text supports fifteen million seats across 10,000 corporate deployments in 31 countries and 12 languages throughout the world. As a publicly traded company, Open Text manages and maximizes its resources and relationships to ensure the success of great minds working together. For more information, visit www.opentext.com.

Trademark

Copyright © 2003 by Open Text Corporation. LIVELINK and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.

Release Disclaimer

This news release may contain forward-looking statements relating to the deployment of Livelink by customers, and future performance of Open Text Corporation. Forward-looking statements are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the final prospectus for the Company's initial public offering of common stock in January 1996, Form 10-K for the years ended June 30, 1996, June 30, 1997, June 30, 1998, June 30, 1999, June 30, 2000, June 30, 2001, and June 30, 2002, and 10-Q for the quarters ending September 30, 2002 and December 31, 2002. Forward-looking statements are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.

For more information, please contact

Margaret E. Dobbin
Director, Industry Analyst Relations
Open Text Corporation
+1-519-888-7111 ext.2410
mdobbin@opentext.com

Richard Maganini
Open Text Corporation
1-847-961-0662
rmaganin@opentext.com